Praj Industries Limited, a global leader in sustainable solutions for the process industry, has reported impressive financial results for the third quarter and nine months ending December 31, 2024. The company’s consolidated and standalone performance reflects continued growth, underpinned by robust operational execution across key segments.
Consolidated Financial Results
- Revenue from Operations: Praj Industries recorded a revenue of ₹85.30 crore for the third quarter (Q3) of FY2024-25, marking a slight increase from ₹82.86 crore in the same period last year. For the nine months ending December 31, 2024, revenue stood at ₹240.76 crore, slightly down from ₹247.98 crore in the previous year. Despite challenges in the global economy, the company displayed resilience, maintaining a stable revenue trajectory.
- Profitability: The company’s Profit Before Tax (PBT) for Q3 FY2024-25 amounted to ₹5.88 crore, while Profit After Tax (PAT) stood at ₹4.11 crore. For the nine-month period, PBT was ₹24.03 crore, and PAT reached ₹17.91 crore, underscoring Praj’s ability to manage profitability in a dynamic macroeconomic environment.
- Cost Management: Praj effectively controlled its operating costs. The cost of materials consumed for Q3 FY2024-25 was ₹48.25 crore. Employee benefits expense was ₹9.12 crore, reflecting ongoing investments in human capital. Finance costs were efficiently managed at ₹0.44 crore, further strengthening the company’s financial position.
- Exceptional Item Profit: During the quarter, Praj recorded an exceptional item profit of ₹2.82 crore, primarily attributed to the sale of land located in Nasarapur, previously classified as “Asset held for sale.” This one-time gain positively impacted the overall profit for the quarter.
- Comprehensive Income: Praj’s total comprehensive income for Q3 stood at ₹4.13 crore, a decrease from ₹5.16 crore reported in Q3 FY2023-24. The decline was primarily due to foreign exchange adjustments and other non-recurring items.
Standalone Financial Performance
On a standalone basis, Praj continued to demonstrate strong performance with revenue from operations for Q3 FY2024-25 reaching ₹73.94 crore, an increase from ₹71.71 crore in the previous year. For the nine months, standalone revenue was ₹204.35 crore, a decrease from ₹215.03 crore in the same period last year.
- Profitability: The standalone profit before tax for Q3 was ₹7.52 crore, while net profit for the quarter amounted to ₹5.57 crore. The tax expense for the quarter was ₹1.95 crore, consistent with the company’s solid operational performance.
Global Expansion and Future Outlook
Praj Industries continues to make strides in expanding its global footprint, with subsidiaries in the Americas, Asia, and Europe contributing significantly to the company’s growth. The company is well-positioned to capitalize on its leadership in sustainable solutions across industries such as biofuels, water treatment, and waste management. Despite facing global economic challenges, Praj remains optimistic about the future.
Shishir Joshipura, CEO and Managing Director of Praj Industries, commented, “We are pleased with the progress we’ve made in the first three quarters of the year, despite external challenges. Our strong financials reflect the commitment of our teams to deliver innovative and sustainable solutions to our customers. Looking ahead, we remain optimistic about continued growth, driven by our global presence and strategic investments in emerging markets.”
Praj Industries’ financial results for the third quarter and nine months ending December 31, 2024, demonstrate the company’s resilience and ability to navigate a challenging global environment. With a solid balance sheet, effective cost management, and a focus on innovation and sustainability, Praj is well-positioned to continue delivering long-term value to its stakeholders.
